Economic Policy council forwards draft on bank recapitalisation
The Economic Policy Government Council approved the draft act of law that sets out the process of banks’ recapitalisation, at a meeting late on Sunday.
The act will be forwarded to the cabinet and issued by today (Monday), according to an announcement by the office of the government vice president.
The draft outlines the options related to the role of the Hellenic Financial Stability Fund in the capital injection (depending on whether there is private participation or not) and in terms of the Greek state’s preference shares.
Following this announcement, the government called on the management of all four systemic banks to expend any effort to encourage and secure the participation of domestic investors during the process of recapitalisation.
You may be interested
OECD: Improving education and training will boost growth and productivity in GreecePanos - May 25, 2017
Greece should prioritise investment in education and training and improve the quality of teaching and educational leadership in order to…
Big stock investors establish Greek foothold in patient betPanos - May 25, 2017
Big money managers have started buying cheap Greek stocks from banks to lotteries as clouds over talks between Athens and…